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the last time anyone came back from a four-point deficit was in 1999 and that was on home soil. and that was a stunning final day then. but for the europeans to come over to the american soil and to achieve this victory, it's truly historic. it was not expected at all. the americans looked like they were going to be racing favorites and certainties on the final day. all they needed from a possible 12 points was 4 1/2. they only managed 3 1/2. so it was left to the europeans to lead from the front, leading by example with an incredible spirit and an incredible belief. and they won the first five matches. and the united states could not respond. tiger woods had a very poor week here and, indeed, the who american team were left dumb struck on the final day after combining so well on the first tw days and displaying wonderful team spirit. but it did not fire at all on the last day. >> i didn't know golfers could get that excited. talk about amazing. let's talk about rory mcilroy, he won a big match, but he almost missed his tee time, which is, of course, kind of embarrassing. >> rep
the last time anyone came back from a four-point deficit was in 1999 and that was on home soil. and that was a stunning final day then. but for the europeans to come over to the american soil and to achieve this victory, it's truly historic. it was not expected at all. the americans looked like they were going to be racing favorites and certainties on the final day. all they needed from a possible 12 points was 4 1/2. they only managed 3 1/2. so it was left to the europeans to lead from the...
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of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of charitable deductions, won't get rid of homeowner, state and local. that's where all the money is. it's not little doodads here. joan, you take this one. he won't tell us. same question comes up wednesday night, can romney dodgeball it? can he say i'm not telling you how i'm going to do the major thing i promised to do, get the economy going through a tax cut, but i'm not going to tell you how i'm going to do it. can he get away with it with even the -- >> i hope not. i think this is a moment for jim lehrer to be very tough, respectful tough, and for president obama to come back at him and to say, look, i'm happy to see -- your running mate said he didn't have enough time on sunday. that's too bad. that's terrible, in fact. i'm willing to cede, governor romney -- >> could jim lehrer get away with simply saying, i have a little liberty here, a little leeway, i will give you all the time it takes. tell us now
of course everybody wants a tax cut, but if it's not going to cause bigger deficits, tell us how you're going to do it, and they won't do it. they won't say we're going to get rid of charitable deductions, won't get rid of homeowner, state and local. that's where all the money is. it's not little doodads here. joan, you take this one. he won't tell us. same question comes up wednesday night, can romney dodgeball it? can he say i'm not telling you how i'm going to do the major thing i promised...
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there will still be a substantial deficit, but it will be smaller. president obama's main contribution to this $16 billion debt, which is a trillion dollar debt, a ten-year figure projecting out ten years was the stimulus bill, which is $800 billion, which i believe was a good thing to do. i think that might be bigger without it. it kept people working and paying taxes and off the government payrolls. because it created new jobs. if you look at his annual spending budgets, they are about 2% increase. that's less than the rate of inflation. so, i think that the reason that i believe he'll win re-election is we are beginning to recover. we have a higher rate of job creation since the recession bottomed out in the middle of 2009 than in the previous eight years. and, we are moving in the right direction and the policies he's advocated are going to produce good economic results. if people thought it was like another recession, he would be in trouble. it's not like another recession. they know it. >> people say the paralysis in washington, the inability t
there will still be a substantial deficit, but it will be smaller. president obama's main contribution to this $16 billion debt, which is a trillion dollar debt, a ten-year figure projecting out ten years was the stimulus bill, which is $800 billion, which i believe was a good thing to do. i think that might be bigger without it. it kept people working and paying taxes and off the government payrolls. because it created new jobs. if you look at his annual spending budgets, they are about 2%...
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he's increased the deficit a trillion dollars a year. so let's start with the failures of this administration. mitt romney has said look, we've got to cut spending, we're broke, we've overpromised, we've overspent -- >> but sir -- >> and -- >> governor, where would he cut the spending. >> let's trust him on that. >> you cut a lot of domestic -- we've already got a plan to cut a trillion -- $1.2 trillion. half of it is balanced on defense spending in a time of war. that's a mistake. and so i think we need to cut trillions of dollars in order to get our budget balanced. and you could start with cutting two or three or 4% almost across the board some of the things that other governors have done, by i think you target it in those areas where the spending has not produced tangible results in the quality of life for the people. i can just tell you, andrea, i did it in virginia, governors like christie and scott and kasic and walker have done it in all of their states, mitt romney did it when he was governor of massachusetts, $3.5 billion defic
he's increased the deficit a trillion dollars a year. so let's start with the failures of this administration. mitt romney has said look, we've got to cut spending, we're broke, we've overpromised, we've overspent -- >> but sir -- >> and -- >> governor, where would he cut the spending. >> let's trust him on that. >> you cut a lot of domestic -- we've already got a plan to cut a trillion -- $1.2 trillion. half of it is balanced on defense spending in a time of war....
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. >> $1.3 trillion deficit you definitely need something to bring that deficit down. bring the national debt down at some point down the road. once there is a balanced budget. who knows when that would be. most people assume nothing is going to happen as far as the fiscal cliff is concerned between now and november 6. but afterwards in that lame duck session between november 6 and december 31, something will happen. are you among those who will agree -- agree that the fiscal cliff will be avoided? >> yes. i think it will be avoided. i mean, you know, depends on the election. you know. if governor romney wins it is likely -- would kick the can into next year. leave everything the same for a few months. let -- the new president come into office and get it together. probably in the spring. president obama wins the election, then right after the election, lame duck, the clock will start ticking and he will be under a lot of pressure to do something. let me say one other thing. you know, i think the most likely scenario is that we are actually going to have to go into next
. >> $1.3 trillion deficit you definitely need something to bring that deficit down. bring the national debt down at some point down the road. once there is a balanced budget. who knows when that would be. most people assume nothing is going to happen as far as the fiscal cliff is concerned between now and november 6. but afterwards in that lame duck session between november 6 and december 31, something will happen. are you among those who will agree -- agree that the fiscal cliff will be...
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budget deficit. douglas you're going to text a living be jesus out of the middle class and that's the unfortunate reality is that there aren't enough rich people to tax to close the deficit you could tax all the rich people everyone over two hundred fifty thousand dollars at one hundred percent of their and then you'd still have a deficit so of course the problem with doing that is that the second year and nobody would make more than two hundred forty nine thousand dollars they'd all go to the beach toys for the rest of the year. and and that's the challenge that you have is that trying to use tax policy as a means of addressing overspending does not work and yet we have drivers of spending in this country specifically health care which is turf following monopoly protections built all throughout the system all of which wind up costing us ridiculous about somebody and then defense which we spend a crazy amount of money on in no small part because we have had our head in the sand for thirty five years
budget deficit. douglas you're going to text a living be jesus out of the middle class and that's the unfortunate reality is that there aren't enough rich people to tax to close the deficit you could tax all the rich people everyone over two hundred fifty thousand dollars at one hundred percent of their and then you'd still have a deficit so of course the problem with doing that is that the second year and nobody would make more than two hundred forty nine thousand dollars they'd all go to the...
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the europeans roaring bang from a 10-4 deficit late saturday to take a tuning 14 1/2 to 13 1/2 point win. germany's martin kaymer sank a putt on the final hole to seal the victory. honestly it was all lost well before that. europe has won the seven out of the last nine ryder cups. and soledad i don't know if you had a chance to watch this debacle. a debacle embarrassing. >> yes, it was killing my poor husband. all right, john, thank you. >>> back to our top story this morning. two days until the first presidential debate. both candidates are getting last-minute preparations. "the new york times" reporting that mitt romney is coming armed on wednesday night, writing this, mr. romney's team has concluded the debates are about creating moments and has equipped him with a series of zingers that he's memorized and habeen practicing on airds since august. president obama responded to that report last night with this. >> i know folks in the media are speculating already on who's going to have the best zingers. i don't know about that. who's going to put the most points on the board. governo
the europeans roaring bang from a 10-4 deficit late saturday to take a tuning 14 1/2 to 13 1/2 point win. germany's martin kaymer sank a putt on the final hole to seal the victory. honestly it was all lost well before that. europe has won the seven out of the last nine ryder cups. and soledad i don't know if you had a chance to watch this debacle. a debacle embarrassing. >> yes, it was killing my poor husband. all right, john, thank you. >>> back to our top story this morning....
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you need to take account of the fiscal deficit, which cannot go like that anymore, and the same thing with the external deficit, and that will require, of course, some adjustments, and nobody wants adjustments. people want miracles. in economics you don't have miracles. you just have good policy and hard work. >> are you encouraged by the policies that you are now seeing from both the europeans and the americans, or really do you sit here thinking more, more please? >> we're not impressed because i think that we have lost the last three years. since the crisis that started in 1988 -- 1998 and 1999, we knew we have not been able to tackle the real causes of the crisis. it has not been done in europe. it has not been done in the u.s. we are talking too much and doing too little. >> now, if this was any leader in latin america, perhaps people would ignore him, but this is the president that's running strong free market economies and policies, and that's why when somebody like this harvard ph.d. economist speaks, president as well, suzanne, people listen. of course, it reinforces what cou
you need to take account of the fiscal deficit, which cannot go like that anymore, and the same thing with the external deficit, and that will require, of course, some adjustments, and nobody wants adjustments. people want miracles. in economics you don't have miracles. you just have good policy and hard work. >> are you encouraged by the policies that you are now seeing from both the europeans and the americans, or really do you sit here thinking more, more please? >> we're not...
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seems, was that the media is pushing mitt romney and paul ryan for specifics on their budget plan, on deficit reduction, but i believe it was haley barbour and others that say the president is not being held to that same standard, the example they bring up is that the president says 1 million jobs -- mitt romney said 12 million and he has not explained but nevertheless, they see this is not equal treatment. when the president is on stage domestic policy, will he be under more fire to talk about the direction of the country because the responsibility and the onus right now is on him being the incumbent? >> i mean, absolutely. here's the reality. if you look at this in terms of, you know, what i think is going to end up happening in this debate, both candidates are going to force -- are going to be forced to answer the gaps if you will. i think the difference is, romney's gaps are the size of the grand canyon. the president i think has laid out pretty clear specific agenda in terms of where he wants to go. plus he has a record that he can go back to. he has a record he has to defend. but romney
seems, was that the media is pushing mitt romney and paul ryan for specifics on their budget plan, on deficit reduction, but i believe it was haley barbour and others that say the president is not being held to that same standard, the example they bring up is that the president says 1 million jobs -- mitt romney said 12 million and he has not explained but nevertheless, they see this is not equal treatment. when the president is on stage domestic policy, will he be under more fire to talk about...
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. >> mitt romney leads according to our poll, on unemployment and the deficit. let me ask you this, ben, because one thing our viewers may assume is that democratic base is now energized and the convention is now partly responsible for that. rece recently, jim -- our new poll, how do you feel strength of support, 72% of voters are strongly excited. that's a virtual tie and extremely or very enthusiastic about voting in november, 65% of republicans. 64% of democrats. does that worry you? in '08, part of the reason the president won was his people were way more enthusiastic than john mccain's. >> we heard enthusiasm on the republicans side last year and now it's down to turn out. people are voting right now. today. they're starting to vote tomorrow this ohio. our supporters are camped out at polling places and thousands more democrats voted in iowa last week than republicans. that's the way we've built this organization on the ground for the past 500 days. we're ip venvesting in a ground organization. >> we'll hit pause there, but going to be talking a lot to both
. >> mitt romney leads according to our poll, on unemployment and the deficit. let me ask you this, ben, because one thing our viewers may assume is that democratic base is now energized and the convention is now partly responsible for that. rece recently, jim -- our new poll, how do you feel strength of support, 72% of voters are strongly excited. that's a virtual tie and extremely or very enthusiastic about voting in november, 65% of republicans. 64% of democrats. does that worry you?...
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why do we have a deficit? we have a deficit because of the bushmen in their tax cuts, -- bush millionaires' tax cuts, because they are not paying their fair share of taxes. mitt romney is paying 14% of his income. i do not care how much mr. plummer made, but it is how much he paid. if mitt romney paid 14%, mr. plummer want to go to congress and he wants to write tax policy. don't you think it is fair that he discloses what his tax returns are? [applause] center brady, his running mate, in his failed bid to become lieutenant governor, released his tax returns. he did not pay any federal income tax for two years. what is it that mr. plummer has not paid? >> mr. palmer? >> i will answer the question. if you look and what is happening right now in the united states, if you look at what is happening, you have politicians of both polos -- part is not being honest with the voters. the bush tax cuts -- i will call of the obama tax cuts because they supported the extension. we have a tax code that is more than 72,000 p
why do we have a deficit? we have a deficit because of the bushmen in their tax cuts, -- bush millionaires' tax cuts, because they are not paying their fair share of taxes. mitt romney is paying 14% of his income. i do not care how much mr. plummer made, but it is how much he paid. if mitt romney paid 14%, mr. plummer want to go to congress and he wants to write tax policy. don't you think it is fair that he discloses what his tax returns are? [applause] center brady, his running mate, in his...
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the europeans roaring back from a deficit to stage a breathtaking 4 1/2 to 13 1/2 point win. sinking a five-put putt to seal the victory. europe's tseventh victory. >> we have to listen to peiers morgan now. >>> and the super bowl champion new york giants lost to the eagles and the eagles undefeateda dramatic win against the panthers. featuring two long bombs by matt ryan in the closing minutes. extraordinaire. >> i can't believe you watched it. >> amazing powers and inabilities to watch sports even if it means sacrificing sleep. >>> another water cooler topic. arnold schwarzenegger puts himself in the hot seat answering questions about his failed marriage, his affair, his love child, and the fact that he performed same-sex marriages while in office. we're going to hear directly from arnold, coming up next. >> big. ♪ well, he's not very handsome ♪ to look at [ sighs ] ♪ oh, he's shaggy ♪ and he eats like a hog [ male announcer ] the volkswagen jetta. available with advanced keyless technology. control everything from your pocket, purse, or wherever. that's the power o
the europeans roaring back from a deficit to stage a breathtaking 4 1/2 to 13 1/2 point win. sinking a five-put putt to seal the victory. europe's tseventh victory. >> we have to listen to peiers morgan now. >>> and the super bowl champion new york giants lost to the eagles and the eagles undefeateda dramatic win against the panthers. featuring two long bombs by matt ryan in the closing minutes. extraordinaire. >> i can't believe you watched it. >> amazing powers and...
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we got current account deficit and that taps at 3.9%. was at about 4.5%. in the quarter gone by, there was a surplus of close to about $5 billion. and we just got the august trade data out, as well. imported out about 5.1%. and august trade data is more or less in line. on that note, it's back to you again. >> all right. thanks for that. gold a bit of a boost in the run up to qe being launched since -- >> yeah, consolidating. i guess we've seen a pretty positive correlation between qe and pursuing months. so i think we'll see it push higher. as we see the race to the base, it can only be good for the gold price and obviously an even more interesting place, the gold miners. >> i just want to point out this tie isn't because i'm long gold. it's actually because i'm supposed to be matching, see that, this is the -- >> you need to be in a blue tie. >> there's some yellow in there, fwr greg. should have worn a yellow shirt. >> next time. >> not that you should take any fashion advice for me. so what about the reaction to that chinese data? li has the details ou
we got current account deficit and that taps at 3.9%. was at about 4.5%. in the quarter gone by, there was a surplus of close to about $5 billion. and we just got the august trade data out, as well. imported out about 5.1%. and august trade data is more or less in line. on that note, it's back to you again. >> all right. thanks for that. gold a bit of a boost in the run up to qe being launched since -- >> yeah, consolidating. i guess we've seen a pretty positive correlation between...
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we have this huge deficit. we have crumbling infrastructure in america, we have huge problems here, and we're a lot safer today on the afghanistan/pakistan border because of the drones. you know, it's not just that bin laden is gone. al qaeda's greatly, greatly weakened in that part of the world, so we're a lot stronger today than we were -- a lot safer from al qaeda than we were five years ago, ten years ago. so it's not that nothing has been accomplished, but having more troops stay there and try to win over the hearts and minds of the various tribes, it's tough in iraq, but it's even tougher in afghanistan. i think the president's done the rite thing, a clear deadline and we're getting out. >> to take you back home with the election coming up, what is your understanding of what the president would do in a second term to deal with the fiscal cliff and to help create jobs? >> i think you're going to see real leadership from the president from the get-go from the day after the election. i think that he believes
we have this huge deficit. we have crumbling infrastructure in america, we have huge problems here, and we're a lot safer today on the afghanistan/pakistan border because of the drones. you know, it's not just that bin laden is gone. al qaeda's greatly, greatly weakened in that part of the world, so we're a lot stronger today than we were -- a lot safer from al qaeda than we were five years ago, ten years ago. so it's not that nothing has been accomplished, but having more troops stay there and...
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and accumulating greater debt, that the country had a budget deficit, a trade deficit, a balance of payments deficit, and the fourth one you brought up was a leadership deficit. >> leadership is the greatest. >> can i ask you both, describe what is the problem with what appears to be in your mind a leadership deficit, that we're not getting the leadership on this key issue either from this president or past presidents, this congress or pass congress aes/ what does it take to get elected officials to tackle at an issue, increasing their taxes? >> let's start with the families. they will get their attention. the voters have to understand all this, which they did not, and voters need to understand what we have to do to get all this corrected, and they do not. if we ever get that over to the voters, they will vote for the people who are geared up, ready, and know how to do it and are running on that basis, and then we can change this country forever and get us back to where we used to be when i was a boy in the depression. why schoolteachers and would have been doctors, lawyers, indian
and accumulating greater debt, that the country had a budget deficit, a trade deficit, a balance of payments deficit, and the fourth one you brought up was a leadership deficit. >> leadership is the greatest. >> can i ask you both, describe what is the problem with what appears to be in your mind a leadership deficit, that we're not getting the leadership on this key issue either from this president or past presidents, this congress or pass congress aes/ what does it take to get...
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than you produce, but trade deficit was not a great concern, but over time with the deficit, that's going -- you'll pay for that one way or another. in the current campaign, one of the commercials broadcast in some of the battleground states like this area is the china commercial, mitt romney accusing president obama of allowing the chinese to cheat as it were, and that manufacturing jobs for the first time, more manufacturing jobs in china and the obama administration's responding. is that a fair fight? is that a fair issue? >> guest: you know, china has to live up to its obligations under the world trade organization like anyone else, but, you know, here we in the mall, washington monument there, white house there, constitution avenue. when you see the chinese feeling what really is of value, it's hiding in plain sight, the declaration of independence and the bill of rights, then you should start to worry, but if they cheat here and there, they take the next thing we produce because we have that incredible foundation here of rule of law, protection of property, and a wonderful soc
than you produce, but trade deficit was not a great concern, but over time with the deficit, that's going -- you'll pay for that one way or another. in the current campaign, one of the commercials broadcast in some of the battleground states like this area is the china commercial, mitt romney accusing president obama of allowing the chinese to cheat as it were, and that manufacturing jobs for the first time, more manufacturing jobs in china and the obama administration's responding. is that a...
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but bernanke says he is not trying to support the federal deficit. >> using monetary policy to try to influence the political debate on the budget would be highly inappropriate. for what it's worth, i think the strategy would also be ineffective. >> reporter: it is not an easy argument to explain. unconventional monetary policy requires the fed to buy treasury bonds and that can look like the fed is trying to support the federal debt. >> in an unconventional policy world, the lines have been blurred and i think what the fed is trying to do is communicate clearly to some of its skeptics what it is trying to do and why. >> reporter: as bernanke ramps up his efforts to counter his critics, some economists worry the attacks may be working. >> i think the real question is, if the economy remains weak, is he prepared to take further steps later this year or early next year and we'll have to see. >> reporter: but as long as the fed is running an unconventional monetary policy, its critics will be turning up the heat. darren gersh, "n.b.r.," washington. >> susie: joining us now to talk more a
but bernanke says he is not trying to support the federal deficit. >> using monetary policy to try to influence the political debate on the budget would be highly inappropriate. for what it's worth, i think the strategy would also be ineffective. >> reporter: it is not an easy argument to explain. unconventional monetary policy requires the fed to buy treasury bonds and that can look like the fed is trying to support the federal debt. >> in an unconventional policy world, the...
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emphasizing the debt and the deficit is very important for a candidate to appeal to independents. mitt romney during the presidential primary here that he won convincingly eve emphasized that a great deal and i think that helped him with indianas. we are without a sales tax and income tax. people understand here that financial decisions have consequences. i can recall in 2000 when john mccain talked about the debt and the deficit the bush campaign at the time said what is he talking about? john mccain beat george bush here by 20 minutes in that prime rare re. bush retooled his message and barely won new hampshire by talking about the debt and the deficit. gregg: kevin in 2010 the last election there, if i understand it, if i recall correctly i think republicans won almost every office, but that doesn't mean it's going to happen that way this year, the pendulum could begin to swing in the other direction? >> that's correct. we had the largest republican sweep for a legislature of any state in the country in 2010. four years earlier in 2006 the democrats took control of the legislat
emphasizing the debt and the deficit is very important for a candidate to appeal to independents. mitt romney during the presidential primary here that he won convincingly eve emphasized that a great deal and i think that helped him with indianas. we are without a sales tax and income tax. people understand here that financial decisions have consequences. i can recall in 2000 when john mccain talked about the debt and the deficit the bush campaign at the time said what is he talking about? john...
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we haven't quite recognized the deficit we have their. as for the state level i think a lot has happened. we work of the state level and attempt to put together work of kids through consumption properly taken care of and educated and carried from conception to kindergarten. we are finding more and more business people who get the reality. the hour understanding with the situation as they are increasingly ready to take action in this area that supported salles solomon to resolve problems we find the report last march from pre-que to the cost and difficulty through kindergarten provided to 100 kids yields the reduction in special-education alone. so what is -- there is that the state level this understanding to take place and people can act on it and it can be done on a school district level. so in many respects, the power of technology and communications for this enabling people and local levels to act in ways they cannot at federally and as the act in the region and the state level it becomes then clear of the federal level what needs to
we haven't quite recognized the deficit we have their. as for the state level i think a lot has happened. we work of the state level and attempt to put together work of kids through consumption properly taken care of and educated and carried from conception to kindergarten. we are finding more and more business people who get the reality. the hour understanding with the situation as they are increasingly ready to take action in this area that supported salles solomon to resolve problems we find...
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including paul ryan tight-lipped on the specifics of the romney plan to cut taxes but not blow up the deficit. >>> and no animals were harmed in the making of this video. skater dude meet deer. that clip later in the show. first to the news live at 5:30 a.m. at 30 rock in new york city. >>> we begin with stories from overseas where foreign policy is coming out as the central topic in the election with much of the recent focus on the attack on bengahzi, libya. romney advisers are split on how broadly they should hit the president over his handling of the attack and why it took so long to acknowledge it was an act of terrorism. some romney advisers to keep the focus on the economy, some are saying romney should have a major foreign policy speech days after the debate. over the weekend, the white house was on the defensive after the friday's announcement that the deadly assault on the u.s. consulate in bengahzi was deliberate and organized. peter king of new york called on susan rice to resign as u.s. ambassador to the united nations after she initially claimed the attack on the consulate was pa
including paul ryan tight-lipped on the specifics of the romney plan to cut taxes but not blow up the deficit. >>> and no animals were harmed in the making of this video. skater dude meet deer. that clip later in the show. first to the news live at 5:30 a.m. at 30 rock in new york city. >>> we begin with stories from overseas where foreign policy is coming out as the central topic in the election with much of the recent focus on the attack on bengahzi, libya. romney advisers...
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but, those who support obama say the president is more likely to reduce the deficit, to cut entitlement spending like social security, but once again, just not a lot of excitement for either person. which is kind of sad. >> let's talk about excitement on the dow. let's show the stocks because they have been rallying since this morning, what is it -- up 121 points now. got a pretty important report on the manufacturing sector. what do we need to know? >> so what we got was the granddaddy of manufacturing reports and what it showed is that manufacturing is back in expansion territory, the sector is growing again. that could help boost the economy. this is notable because it comes after three months of contraction in manufacturing. also, you look at china, manufacturing in china, in europe, it is going backwards it contracting. sobucking the trend. a good surprise for the u.s. manufacturing is what helped get us out of the recession in 2009. we saw activity picked up, hiring picked up. we saw the trend continuing. we want to see that continue to help the economy move forward. with a lot mo
but, those who support obama say the president is more likely to reduce the deficit, to cut entitlement spending like social security, but once again, just not a lot of excitement for either person. which is kind of sad. >> let's talk about excitement on the dow. let's show the stocks because they have been rallying since this morning, what is it -- up 121 points now. got a pretty important report on the manufacturing sector. what do we need to know? >> so what we got was the...
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, indirectly, they're selling the deficits to the banks and the fed's buying it from the banks. this is a bit like argentina, it's a bit like latin america. is there an inflationary bubble coming? >> i don't think so and here's the bottom line, we can't get industry, the manufacturers, the folks that want to borrow this money, we can't get them to take on projects. i do think the politicalization of wall street right now, the ceos don't want to invest because they don't know about the tax cuts. but we have trillions of dollars that is ready to get into money flow. we need the money to get higher velocity and they're not doing it because they can't get a return on their investment. >> what's romney going to stay in the debate tomorrow to really articulate -- >> he's not going to be able to say those trillions can -- >> here's what romney said, to the extent that there's been any recovery at all, to the extent that there's been any economy growth at all, it's been -- whatever we have had has been completely funded -- remember what obama said, i'm going to build a new foundation. i
, indirectly, they're selling the deficits to the banks and the fed's buying it from the banks. this is a bit like argentina, it's a bit like latin america. is there an inflationary bubble coming? >> i don't think so and here's the bottom line, we can't get industry, the manufacturers, the folks that want to borrow this money, we can't get them to take on projects. i do think the politicalization of wall street right now, the ceos don't want to invest because they don't know about the tax...
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we have taken the difficult decisions to reduce the deficit by a quarter and have laid the foundations for a stronger, more balanced economy capable of delivering real and lasting growth. but conference, our task is far from complete, our party's journey far from over. i know that there are some in the party -- some in this hall even -- who, faced with several more years of spending restraint, would rather turn back than press on. break our deal with the conservatives, give up on the coalition, and present ourselves to the electorate in 2015 as a party unchanged. it's an alluring prospect in some ways. gone would be the difficult choices, the hard decisions, the necessary compromises. and gone too would be the vitriol and abuse, from right and left, as we work every day to keep this government anchored in the centre ground. but conference, i tell you this. the choice between the party we were, and the party we are becoming, is a false one. the past is gone and it isn't coming back. if voters want a party of opposition -- a "stop the world i want to get off" party -- they've got plenty
we have taken the difficult decisions to reduce the deficit by a quarter and have laid the foundations for a stronger, more balanced economy capable of delivering real and lasting growth. but conference, our task is far from complete, our party's journey far from over. i know that there are some in the party -- some in this hall even -- who, faced with several more years of spending restraint, would rather turn back than press on. break our deal with the conservatives, give up on the coalition,...
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>> by responsibly dealing with these deficits and leaving money to invest. education, research and development. >> those aren't specific proposals. i'm asking -- >> 100,000 new math and science teachers. we need that. >> that's a goal, right? >> educating training 2 million new workers in our community colleges in conjunction with business to fill jobs that are open right now. boosting american manufacturing by ending the tax break that sends jobs overseas and giving tax incentives to companies that start manufacturing businesses here. these are specific tangible proposals and i believe they will pass because i believe the american people are supportive of that. >> but they haven't passed. >> the verdict will be rendered november 6. megyn: joining me now mark hannah, former aid to john kerry and barack obama. kevin, your chots on that exchange? >> that was a revealing look inside the best talking points that president obama has by his top spokesperson on the campaign frame beside himself. if you can't get more prekay tough than education, green energy, resea
>> by responsibly dealing with these deficits and leaving money to invest. education, research and development. >> those aren't specific proposals. i'm asking -- >> 100,000 new math and science teachers. we need that. >> that's a goal, right? >> educating training 2 million new workers in our community colleges in conjunction with business to fill jobs that are open right now. boosting american manufacturing by ending the tax break that sends jobs overseas and...
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members and it requires them to slash the public deficit or to be punished to be fined if they streety is ratified that means france will have to will be obliged to reduce its budget by thirty billion euros and dramatically just huge sum of money and of course it will affect life here in france dramatic life for ordinary people i mean this budget document says is it was already ready it's been reviewed recently and it says that it proposes to save thirty billion euros by cutting public spending and by increasing taxes and of course this is something it's not going to help economy growth but instead may lead to stick nation this is what people of come here today are protesting against and they're calling for the opposite they say the country's economy right now needs most candy and lawyer tax says. we don't want. because europe wants to pressure us to stop our country from investing in public sectors like education don't with this we are protesting against the sturgeon europe and everybody knows that hysterically leads to recession going to live from the cities we are against the imposi
members and it requires them to slash the public deficit or to be punished to be fined if they streety is ratified that means france will have to will be obliged to reduce its budget by thirty billion euros and dramatically just huge sum of money and of course it will affect life here in france dramatic life for ordinary people i mean this budget document says is it was already ready it's been reviewed recently and it says that it proposes to save thirty billion euros by cutting public spending...
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because it will sort of focus our priorities, getting the country's debt and deficit under control. what do you think about that? >> well, sequestration cuts the good along with the bad. not everything government does is wasteful. not everything government does is good. go after the wasteful first, go after the policies which we know don't achieve the goals they were set out to meet. we don't think sequestration -- sequestration was set up as a threat, such a horrible threat that it would force congress to act and hasn't forced congress to act yet. we hope it will in the lame duck, that they'll take thoughtful steps by going after wasteful programs first. >> you're right. it hasn't gotten them to act yet. ryan, good to talk to you. thanks so much. >> thanks so much for having us. >> see you soon. "fast money" begins at the top of the hour. >>> our traders give you the top picks for the fourth quarter. then we'll have all the headlines coming from the value investing congress. our traders will give you the trade. we'll also have the founder of 13 d monitor tell you how you could inve
because it will sort of focus our priorities, getting the country's debt and deficit under control. what do you think about that? >> well, sequestration cuts the good along with the bad. not everything government does is wasteful. not everything government does is good. go after the wasteful first, go after the policies which we know don't achieve the goals they were set out to meet. we don't think sequestration -- sequestration was set up as a threat, such a horrible threat that it would...
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it's the case he had been on two issues, on handling the deficit, on the economy more broadly and some extent on what making washington work and overcoming partisan paralysis, those are issues he was ahead of obama until recently, and was ahead of obama with female voters until recently. the reason you're seeing that ad right now, the biggest and most troubling change in the polling in the last two weeks has been the shift in the right track/wrong track numbers and concurrently the shift of obama being given the edge over romney on those issues where the only place romney had a lead. they are, you know -- obviously don't want to talk about the issues that are toxic with female voters but must win back some of the suburban female votes on economics, deficit, stuff like that. they see that as an imperative and that's why that ad is out there. >> i don't think you say to your baby to, welcome to america. the first of the ad is so bizarre. hi, honey, welcome to our family. >> welcome to a baby -- welcome to america, baby, you're teething and have $50,000 in debt. after the break while the
it's the case he had been on two issues, on handling the deficit, on the economy more broadly and some extent on what making washington work and overcoming partisan paralysis, those are issues he was ahead of obama until recently, and was ahead of obama with female voters until recently. the reason you're seeing that ad right now, the biggest and most troubling change in the polling in the last two weeks has been the shift in the right track/wrong track numbers and concurrently the shift of...
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we are running a trillion dollars deficit. once we start paying a real normal interest rate on that 20 trillion, it will send the budget even deeper. dagen: all of what you are saying makes perfect sense. i have argued for years that the american people will not vote to pick that until they feel it is home. runaway inflation like the 1970s and skyhigh interest rates like people saw 30 some odd years ago. that is not the case today. if it was laid out just like that, do you think they would vote based on that? >> i think they will not have a choice. when the crisis comes we will not have a choice to say let's wait a couple years until things get better. we will have to face the music like most of europe is today. the only reason we are not being forced to make a choice is the federal reserve. david bernanke. all of these lunatics who have driven the interest rate down to zero and telling congress and presidential candidates to not worry about the deficit because you can finance another trillion dollars for free. i know that 70
we are running a trillion dollars deficit. once we start paying a real normal interest rate on that 20 trillion, it will send the budget even deeper. dagen: all of what you are saying makes perfect sense. i have argued for years that the american people will not vote to pick that until they feel it is home. runaway inflation like the 1970s and skyhigh interest rates like people saw 30 some odd years ago. that is not the case today. if it was laid out just like that, do you think they would vote...
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it's going back to a time of constrained resources, budget deficits and deficits, then -- budget deficits, then we need to make sure we are receiving their return on those funds. host: but what is the process of approval for the state and federal levels? guest: if it is formula funds, is pretty much up to the states. they do this for highway entry and then for projects. it is preparing a list of projects that technically have to be approved, making sure they meet federal standards and criteria. but it is not a strategic program, but just a list of projects. in the case of discretionary grants, and the new starts program being a big element of that, this is a resource process. something that the criteria that applied in making a decision about money to new york or money to denver, sometimes those criteria are too rigorous, not per bree, etc. it is a very extensive -- not appropriate, etc. it is a very extensive and respect application. these projects often take 10 years, 15 years, 20 years in some cases to be completed. there has to be some degree of the assurance that the federal funds wi
it's going back to a time of constrained resources, budget deficits and deficits, then -- budget deficits, then we need to make sure we are receiving their return on those funds. host: but what is the process of approval for the state and federal levels? guest: if it is formula funds, is pretty much up to the states. they do this for highway entry and then for projects. it is preparing a list of projects that technically have to be approved, making sure they meet federal standards and criteria....